What We Do
Community-based Health Insurance
Saiya provides comprehensive health coverage that ensures all members of the program are able to depend on us if they are ever confronted with serious medical issues. Our product offers the following: full hospitalization coverage, all drugs connected with hospitalization, and follow-up appointments related to hospitalization, with a maximum benefit of $3,000. Additionally, a payout of 6 months' earnings is given in the event that a designated breadwinner is incapable of earning due to illness.
This process goes as follows:
Existing Group: We work with existing aggregates of people who share a sense of belonging and connection. From co-beneficiaries in an NGO program to co-clients of an MFI, or even people in the same village. The key is that they feel connected and part of a larger group who are working together.
Calculating Risk with Statistical Data: We take this existing group's data and input it into our risk calculator to accurately determine the ratio of donors and the size of donations needed to fund a 12-month term.
Maximize our Social Interaction Platform: We take this existing group and provide them with a presence on our social platform. Once on our platform, they will be presented to a worldwide audience of donors who are focused on making sure insurance is available to everyone.
Contributors Engage with the Group: When featured on our platform, our contributors will fill up the pool with donations. Our risk model will guide us in determining how much we need from contributors.
Payouts: When the funding window is shut and we've collected enough for the year, the 12-month insurance period will start as arranged, and every participant in the group will be covered for the year. In the second year, the members of the group will also start to contribute a reasonable amount to the pool in order to strive for self-sufficiency.
Life Insurance Policy for Household Earners
Saiya provides an engaging life insurance product for earners in a household. In case of the death of the household earner, a payout of $1,500 will be given. Further, the household will be eligible for an early payout of savings in the pool to even out earnings.
Public Health Seminars
Saiya offers three public health seminars a year for our groups! During these seminars, they can learn about topics relevant to the village they are part of and earn a higher cashout when they attend all three.
At the end of the 12-month insurance term, our participants are rewarded with a payout. The healthier the group is during the term, the greater the reward. To motivate everyone to stay healthy, we take the excess money in the insurance pool and make it available to participants as a bonus.